Troutman Sanders

DECEMBER 7, 2021

On November 30, Regulation F of the Fair Debt Collection Practices Act became effective. On November 29, the CFPB issued a new advisory for financial institutionsto help prevent elder financial exploitation with alerts to trust contacts. For more information, click here. For more information, click here.

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Troutman Sanders

APRIL 26, 2021

House of Representatives passed seven bipartisan bills introduced by House Financial Services Committee members. On April 21, the Fair Debt Collection Practices for Servicemembers Act passed the House of Representatives under suspension of the rules. For more information, click here. On April 22, the U.S.

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Consumer Financial Services Law

OCTOBER 31, 2021

As debt collectors make the final push towards implementation, there are crucial conversations debt collectors should be having with creditors to ensure a smooth transition. One of the options provided is based upon prior communications with the creditor. Adjust Expectations of the Creditor. Section 1006.34(b)

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Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , or more of a debt is forgiven as a result of settling a debt for less than the balance owing, the creditor may be required to report the amount of the debt forgiven to the Internal Revenue Service on a 1099C form, a copy of which would be mailed to you by the creditor.

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True Accord

NOVEMBER 20, 2023

Consumers Prefer Digital Debt Collection By and large, consumers prefer to communicate with their collection agencies digitally—they already predominantly communicate with their banks, creditors, and lenders digitally, so digital collection is a smooth transition when an account moves to collection.

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Better Credit Blog

APRIL 1, 2022

Within your lifetime, you may have a period of financial distress. Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up. It’s perfectly legal and proper to make this request, generally called a Debt Validation Letter. Why ask for proof?

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Better Credit Blog

APRIL 5, 2022

Ask the Collection Agency to Validate the Debt. If you can’t find inaccuracies on your credit reports, write to the collection agency and ask it to validate your debt. The main issue here is that you have only 30 days to make the request after the collection agency first contacts you.

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Debt Collection Answers

MAY 18, 2023

Caine and Weiner is a prominent debt collection firm that operates across various sectors, gathering debts from a range of industries, including: Personal loans Phone bills Student loans Credit cards To secure his debts, Caine and Weiner acquire them from the original creditors at a reduced price, then pursue the entire amount from the debtor.

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Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. This article discusses the similarities and differences between the FDCPA and the FCCPA.

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Collection Industry News

NOVEMBER 6, 2020

The regulator explained the rule focuses on debt collection communications and gives consumers more control over how often and through what means debt collectors can communicate with them regarding their debts. The entire new rule can be downloaded on this website.

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Troutman Sanders

JANUARY 26, 2023

TILA authorizes the CFPB to determine whether a state law requirement is preempted, upon its own motion or upon the request of a creditor, state, or other interested party. Caleb Rosenberg Caleb is an associate in the firm’s Consumer Financial Services Practice Group.

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Troutman Sanders

OCTOBER 7, 2021

a Third Circuit district court granted summary judgment to the defendants in a Fair Debt Collection Practices Act (FDCPA) case. a debt buyer, retained defendant LTD Financial Services, L.P. LTD) to collect on the $4,528.59 In Bordeaux v. AA II, Inc.),

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True Accord

NOVEMBER 13, 2023

Interestingly, this update contains revisions that are similar to the New York Department of Financial Services (NYDFS) proposed amendments to New York’s debt collection law, 23 NYCRR 1, that NYDFS released last year. Comments were due February 13, 2023. The first New York proposed amendment also never became final.

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FFGN COLLECT NY

JANUARY 13, 2021

It should be noted that most news articles about debt collection involve rogue collectors or firms that either harassed consumers or failed to give the required notice of a debt. New York Debt Collection Laws. As of today, New York does not require licensing for collection agencies or collection law firms.

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Better Credit Blog

APRIL 1, 2022

Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts. They recently acquired Alltran Financial Services in 2020. Debt Validation.

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True Accord

APRIL 5, 2023

But with inflation and economic stressors persisting into the new year, many consumers are conflicted on their financial outlook and spending behavior is hard to predict. The final amended rule will go into effect on July 20, 2023.

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Better Credit Blog

JULY 13, 2020

Nationwide Recovery Service is a debt collection agency that collects a variety of debt, including telecommunication, financial service, utilities, and medical bills. Nationwide Recovery Service will appear on your credit report as a collection agency.

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Better Credit Blog

AUGUST 22, 2020

If you have a debt that you haven’t paid yet, you may have heard from a debt collector called CCS Offices. CCS Offices is a company that collects debts on behalf of original creditor. They do this by either purchasing the debt or collecting the payments and taking a portion for themselves.

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Troutman Sanders

FEBRUARY 24, 2022

Preferred Collection and Management Services Inc. For context, Section 1692c(b) of the FDCPA prohibits a debt collector from communicating with most third parties “in connection with the collection of any debt” unless it has the consumer’s consent.

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Troutman Sanders

MAY 5, 2021

Section 1692c(b) of the FDCPA prohibits a debt collector from communicating with most third parties “in connection with the collection of any debt” unless it has the consumer’s consent.

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Better Credit Blog

AUGUST 21, 2020

If you have failed to pay a bill, you may begin to hear from a collection agency known as Radius Global Solutions. This means that Radius Global Solutions has acquired your debt from the original creditor and has opened a collection account on your credit report.

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Better Credit Blog

FEBRUARY 19, 2021

The majority of their clientele are within: financial services. Other complaints are the result of a more serious issue with FMA Alliance’s collection tactics. The Fair Debt Collection Practices Act (FDCPA) is a law that sets policies in place to prevent debt collectors from soliciting payments in sleazy ways.

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Better Credit Blog

AUGUST 7, 2020

If you have been contacted by a company called Professional Finance Company, you are probably being pursued for an old unpaid debt. This can make for unpleasant interactions with creditors and constant harassment for payment. Request Debt Validation. They are a legitimate company and are currently headquartered in Greeley, CO.

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Consumer Financial Services Law

MAY 16, 2017

Midland Funding, LLC, a debt buyer, filed a proof of claim which disclosed on its face that the claim was barred by the applicable statute of limitations, listing the date of last transaction as May 2003. Midland moved to dismiss asserting that Johnson’s FDCPA claims were precluded by the Bankruptcy Code. Johnson, 823 F.3d 3d at 1341.

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Consumer Financial Services Law

NOVEMBER 19, 2020

On October 30, 2020, the CFPB published its long awaited Final Debt Collection Rule (the “Rule”) which is intended to interpret the federal Fair Debt Collection Practices Act (the “FDCPA”) and clarify how new communication technologies can be used in compliance with the FDCPA. Who’s Covered? Section 1006.6

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Consumer Financial Services Law

OCTOBER 12, 2016

Moreover, the Georgia statute expressly provides that garnishment proceedings are actions between the judgment-creditor and the garnishee. The Staff Commentary provides that if a judgment is obtained from a forum that satisfies the venue requirements of section 1692i, then a debt collector may bring suit to enforce it in another jurisdiction.

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Consumer Financial Services Law

MAY 12, 2017

In December 2013, Jeziorowski filed a complaint alleging violations of the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act of 1991 (TCPA). Jeziorowski v. Credit Prot. LEXIS 66084 (W.D.N.Y.

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